Bank Performance Standard definition

Bank Performance Standard means the financial condition or conditions established by the Bank's board of directors that must be satisfied at the end of a Plan Year in order for the Executive to be entitled to an annual contribution for that Plan Year. As of the Effective Date of this Agreement, the Bank Performance Standard that must be satisfied at the end of a Plan Year in order for the Executive to receive an annual contribution for that Plan Year is as follows: (x) the Bank must have the legal capacity under Michigan law to pay a cash dividend to its holding company, Southern Michigan Bancorp, Inc., and (y) declaration and payment by the Bank of a cash dividend to its holding company must not be subject to the requirement for advance approval of or advance notice to the FDIC, the Federal Reserve Board or Federal Reserve Bank of Chicago, or the Michigan Office of Financial and Insurance Regulation. For purposes of clause (y), an advance notice requirement or advance approval requirement applying generally to all Michigan-chartered banks, for example a notice or approval requirement applicable to all Michigan-chartered banks by rule, shall not be taken into account. The only advance notice or advance approval requirements that shall be taken into account for purposes of clause (y) are those applying specifically to the Bank by name as the result of a formal or informal enforcement action, including but not limited to a consent order, formal agreement, memorandum of understanding, or voluntary board resolutions. The Plan Administrator shall have sole authority to determine whether the Bank Performance Standard is achieved for any Plan Year. The Plan Administrator's determination that the Bank Performance Standard for a Plan Year has or has not been achieved shall be conclusive and binding.
Sample 1

Examples of Bank Performance Standard in a sentence

  • The SEP is also prepared in compliance and with the application of the World Bank Performance Standard 10 on stakeholder engagement and information disclosure.

  • Manual, to ensure that, as appropriate, sub‐projects comply with the applicable World Bank Performance Standard (Indigenous People; PS7), including with Free, Prior and Informed Consent, when required.

  • RBM will analyse and leverage the synergies that may exist between World Bank Performance Standard 2 and relevant national labour laws and regulations.

  • However, the contractor will be entitled to establish an agreement with the cultural authority for additional services or resources during this further period under a separate contract with the cultural authority.Annex 3: World Bank Performance Standard on Labor and Working Conditions 1.

  • A debate around the “Green Fund’s” first project in Peru in 2015, “PROFONANPE”, is a good example as it suggests that there is a lack of understanding about the operative implications of the implementation of free, prior and informed consent and issues related to full and effective participation and consultation of indigenous peoples.97 Questions also remain on the application of FPIC as now recognised in World Bank Performance Standard 7.

  • A territorial authority must elect 1 of its members to be its deputy mayor in accordance with clause 25.

  • Annex 3: World Bank Performance Standard on Labor and Working Conditions 1.Performance Standard 2 recognizes that the pursuit of economic growth through employment creation and income generation should be accompanied by protection of the fundamental1 rights of workers.

  • PCU will also make sure that the GRM and the complaint system is applied properly and as to the related laws and regulations. Annex (9.9) is the World Bank Performance Standard on Labor and Working Conditions that have to be applied (Performance Standard 2 – Labor and Working Conditions (PS2)).

  • While there is broad support for the basic framework of U.S. antitrust merger analysis, concerns exist with the level of transparency into how that framework is being applied by the Agencies, the effectiveness of merger policy and the tools used to apply it, and the impact of procedural differences between merger litigation conducted by the Division and the FTC.

  • Source: US State Department HONDURAS 2017 HUMAN RIGHTS REPORT, page 26.the World Bank Performance Standard 7 – ESS7 Guidance Note and the Voluntary Principles for Security and Human Rights as guidelines.

Related to Bank Performance Standard

  • Performance Standard means the acceptable range of performance for a Performance Indicator or a Service Volume that results when a Performance Corridor is applied to a Performance Target.

  • Control Performance Standard or “CPS” shall mean the reliability standard that sets the limits of a Balancing Authority’s Area Control Error over a specified time period.

  • Performance Standards or “PS” shall mean the cleanup levels and other measures of achievement of the remedial action objectives, as set forth in the ROD.

  • Key Performance Indicator means a measure that captures the performance of a critical variable to expand and improve community-based corrections programs to promote offender success, ensure accountability, enhance public safety, and reduce recidivism.

  • Key Performance Indicators or “KPIs” means the performance measurements and targets set out in Part 3 of Schedule 1 (Services) of this Framework Agreement;

  • Capacity Performance Resource means a Capacity Resource as described in Tariff, Attachment DD, section 5.5A(a).

  • Energy Performance Score means the numeric rating generated by Portfolio Manager that compares the Energy usage of the building to that of similar buildings.

  • Qualifying Performance Criteria means any one or more of the following performance criteria, either individually, alternatively or in any combination, applied to either the Company as a whole or to a business unit, Parent, Subsidiary or business segment, either individually, alternatively or in any combination, and measured either annually or cumulatively over a period of years, on an absolute basis or relative to a pre-established target, to previous years’ results or to a designated comparison group, and on a pre-tax or after-tax basis, in each case as specified by the Committee in the Award: (i) cash flow (including operating cash flow or free cash flow); (ii) earnings (including gross margin, earnings before interest and taxes, earnings before taxes, and net earnings); (iii) earnings per share; (iv) growth in earnings or earnings per share; (v) stock price; (vi) return on equity or average stockholders’ equity; (vii) total stockholder return; (viii) return on capital; (ix) return on assets or net assets; (x) return on investment; (xi) revenue; (xii) income or net income; (xiii) operating income or net operating income; (xiv) operating profit or net operating profit; (xv) operating margin; (xvi) return on operating revenue; (xvii) market share; (xviii) contract awards or backlog; (xix) overhead or other expense reduction; (xx) growth in stockholder value relative to the moving average of the S&P 500 Index or a peer group index; (xxi) credit rating; (xxii) strategic plan development and implementation (including individual performance objectives that relate to achievement of the Company’s or any business unit’s strategic plan); (xxiii) improvement in workforce diversity; (xxiv) expenses; (xxv) economic value added; (xxvi) product quality; (xxvii) number of customers; (xxviii) objective customer indicators; (xxix) customer satisfaction; (xxx) new product invention or innovation; (xxxi) profit after taxes; (xxxii) pre-tax profit; (xxxiii) working capital; (xxxiv) sales; (xxxv) advancement of the Company’s product pipeline; (xxxvi) consummation of strategic transactions; (xxxvii) reduction in cash utilization; and (xxxviii) addition of technologies and products. The Committee may appropriately adjust any evaluation of performance under a Qualifying Performance Criteria to exclude any of the following events that occurs during a performance period: (A) asset write-downs; (B) litigation or claim judgments or settlements; (C) the effect of changes in tax law, accounting principles or other such laws or provisions affecting reported results; (D) accruals for reorganization and restructuring programs; and (E) any gains or losses classified as extraordinary or as discontinued operations in the Company’s financial statements.

  • Performance Level means a reference to one of Performance Level I, Performance Level II, Performance Level III, Performance Level IV or Performance Level V.

  • Additional Performance Security means the Bank Guarantee to be submitted by Successful Bidder in accordance with Clause 8.7 of this RFP Document

  • performance requirement means a requirement that:

  • Performance Requirements The ordering entity reserves the right to inspect and verify that all deliveries are in accordance with specifications, both at the point of delivery and at the point of use. For orders that specify an “authorized party” to receive and inspect deliveries and/or installations, acceptance and inspection procedures must be performed by the” authorized party” to be considered and accepted by the ordering entity. Products inspected at the time of use are subject to refusal and return requirements for issues of quality such as defects in manufacturing and/or workmanship. Products will not be considered accepted by the ordering entity until the installation is complete for the applicable products.

  • Extreme performance coating means coatings designed for harsh exposure or extreme environmental conditions.

  • Underlying Performance means in relation to the Valuation Date a decimal number calculated by applying the following formula: UP =Underlying FINAL Underlying INITIAL where: UP = Underlying Performance with respect to the Valuation Date UnderlyingFINAL UnderlyingINITIAL= Reference Price of the Underlying with respect to the Valuation Date = Initial Price of the Underlying

  • human performance means human capabilities and limitations which have an impact on the safety and efficiency of aeronautical operations;

  • Energy savings performance contract means a contract under which the rate of payments is based upon energy and operational cost savings and a stipulated maximum energy consumption level over the life of the contract.

  • Basket Performance means a decimal number calculated by applying the following formula: X ⎛ Underlyingi,FINAL ⎞⎜⎟BP = ∑⎜ Wi × Underlying ⎟i=1 ⎝i,INITIAL ⎠ where: BP = Basket Performance X = 2 Wi = Weighting of the relevant Underlying Underlying i,FINAL Underlying i,INITIAL= Reference Price of the relevant Underlying with respect to the Valuation Date = Initial Price of the relevant Underlying

  • Performance Monitoring System has the meaning given to it in paragraph 1.1.2 in Part B of Schedule 6 (Service Levels, Service Credits and Performance Monitoring);

  • Annual performance report means a written appraisal of the teaching staff member's performance prepared by the teaching staff member’s designated supervisor based on the evaluation rubric for his or her position.

  • Long-Term Performance Award means an award under Section 10 below. A Long-Term Performance Award shall permit the recipient to receive a cash or stock bonus (as determined by the Committee) upon satisfaction of such performance factors as are set out in the recipient's individual grant. Long-Term Performance Awards will be based upon the achievement of Company, Subsidiary and/or individual performance factors or upon such other criteria as the Committee may deem appropriate.

  • Performance Measure means one or more of the following selected by the Committee to measure Company, Affiliate, and/or business unit performance for a Performance Period, whether in absolute or relative terms (including, without limitation, terms relative to a peer group or index): basic, diluted, or adjusted earnings per share; sales or revenue; earnings before interest, taxes, and other adjustments (in total or on a per share basis); basic or adjusted net income; returns on equity, assets, capital, revenue or similar measure; economic value added; working capital; total shareholder return; and product development, product market share, research, licensing, litigation, human resources, information services, mergers, acquisitions, sales of assets of Affiliates or business units. Each such measure shall be, to the extent applicable, determined in accordance with generally accepted accounting principles as consistently applied by the Company (or such other standard applied by the Committee) and, if so determined by the Committee, and in the case of a Performance Compensation Award, to the extent permitted under Code Section 162(m), adjusted to omit the effects of extraordinary items, gain or loss on the disposal of a business segment, unusual or infrequently occurring events and transactions and cumulative effects of changes in accounting principles. Performance Measures may vary from Performance Period to Performance Period and from Participant to Participant, and may be established on a stand-alone basis, in tandem or in the alternative.

  • Service Levels means any service levels applicable to the provision of the Services under this Call Off Contract specified in Annex 1 to Part A of Call Off Schedule 6 (Service Levels, Service Credits and Performance Monitoring);

  • Performance Metrics means criteria established by the Administrator relating to any of the following, as it may apply to an individual, one or more business units, divisions, or Affiliates, or on a company-wide basis, and in absolute terms, relative to a base period, or relative to the performance of one or more comparable companies, peer groups, or an index covering multiple companies:

  • Qualified Performance-Based Award means an Award intended to qualify for the Section 162(m) Exemption, as provided in Section 11.

  • Service Level means the standard set forth below by which IBM measures the level of service it provides in this SLA.

  • Cash Performance Award means an Award that is denominated by a cash amount to an Eligible Person under Section 10 hereof and payable based on or conditioned upon the attainment of pre-established business and/or individual Performance Goals over a specified performance period.